Abbott Labs Swings to a Profit;
Drug Unit Drives Sales Growth

ABBOTT PARK, Ill. -- Abbott Laboratories swung to a profit for the first quarter, recovering from deep charges a year earlier and posting an 18% increase in sales.

Separately, Abbott said it filed for U.S. and European regulatory approval of D2E7, a rheumatoid-arthritis drug believed to offer considerable potential. The drug was part of the Knoll acquisition last year.